| The US government is investing heavily in infrastructure, using the Infrastructure Investment and Jobs Act (IIJA) and the Inflation Reduction Act (IRA) to allocate $1.25tn across transportation, energy, water resources and broadband sectors for the next five to ten years. This funding has led to around 20,000 projects being initiated, and it is hoped that improvements in US infrastructure will be evident by the next presidential election. However, challenges include rising construction prices, recruitment difficulties, and increasing debt-servicing costs. While a default is possible due to the ongoing debt ceiling spat, this is unlikely to limit the infrastructure program, and Congress is expected to reach a compromise. |
Complex Terms:
- Infrastructure – Basic structures for a society, like roads and power supplies
- Broadband – A fast way to access the internet
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